June 2022 FBA Profit and Loss Report

How much did I actually make?

Welcome back! it’s that time of the month again, where I give you an inside look on how my business has performed in the last 30 days. While I can’t exactly say I’m pleased with the outcome, it was a solid learning experience and I think I just need to put in some more effort (and maybe hire another VA) to keep growing.

The Numbers

NOTE: These numbers come from InventoryLab which only counts shipped orders:

Revenue: $47,259.77

Cost of Goods Sold: $22,591.94

Amazon Fees: $16,033.20 (includes shipping costs, fulfillment fees, storage, etc.)

Other Expenses: $4,269 (See list below)

Net Profit: $4,365.63

Other Expenses:

• Tactical Arbitrage (OA Package) - $89

• SellerAmp - $23

• Profit Protector Pro - $60

• Keepa - $22

• Quickbooks - $40

• Cheddarsoft - $50

• Virtual Assistant Salary - $1290 (includes bonuses)

• eCommerce Insurance - $51

• Prep Center Fees - $2644

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While revenue is up, the overall profit is down. One of the biggest issues I had this month was inventory being stuck in fulfillment center transfer. In the last week or two, I’ve had about 600+ units checked in to FBA which haven’t been selling a lot because they’re still being transferred. I have a suspicion that this will lead to July being my biggest month yet but I can’t say for sure.

Time for some expense updates:

• I axed the leads list since I have several VAs now.

• I added Cheddarsoft to my software stack (it’s an interesting tool, I’ll be sure to write a post about it sometime).

• I hired a new sourcing VA and fired my first one. While my first VA wasn’t necessarily losing me money, the ones I’ve received from Fast Track FBA have been far more efficient and found me way more items despite only being on the job for a few weeks. My two current VAs are paid in PHP instead of USD, and due to current exchange rates I’ll actually be getting a discount on them (~$470 USD/month instead of $500).

Category Breakdown

Notable changes:

• Big increase in sales from apparel and shoes (~20% overall). while the ROI on these are much lower, they tend to be higher ticket items so I’m still making enough money on each sale for it to be worth my time.

• Grocery starting to fall off big time. A lot of grocery items have too low margins to be sent to my prep center so I think it will continue to decline unless I find some really good items.

What’s Next?

As much as I don’t want to do it, I think it might be time to hire a VA for admin tasks. While I usually don’t mind doing them, I’ve started to get to a point where they just take up too much time and I often forget to do everything. Other than that, I will continue to spend more money on products and do a couple of FBA shipments from home to increase my volume.